New Delhi, October 6(HS): Jaipur-based Advit Jewels Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO).According to the document submitted to the market regulator, the proposed IPO comprises a fresh issue of 1.38 crore equity shares of face value ₹10 each through a book-building process.

The company plans to list its shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).As per SEBI’s ICDR regulations, up to 50% of the offering will be reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and a minimum of 35% for Retail Individual Investors (RIIs).

The proceeds from the fresh issue, estimated at ₹65 crore, will be utilized to meet incremental working capital requirements, repay or prepay certain borrowings availed from scheduled commercial banks, and for general corporate purposes.Incorporated in 2019, Advit Jewels Limited is a leading manufacturer and retailer of handcrafted fine jewelry, specializing in Kundan, Polki, diamond, and Jadau ornaments.

Operating under its brand name RamBhajo, the company blends traditional artistry with modern craftsmanship, creating uniquely designed pieces inspired by global art forms.

Hindusthan Samachar / Jun Sarkar